South Korean defence stocks surge on bets of Europe spending boost

HYUNDAI ROTEM

04/03/2025 24:45

** South Korean defence stocks surge on bets of spending boost in Europe after a clash between the presidents of the United States and Ukraine over U.S. aid

** Hanwha Aerospace 012450.KS rises more than 11%, Hanwha Systems 272210.KS jumps 7%, LIG Nex1 079550.KS climbs 6%, and Hyundai Rotem 063450.KS adds 11%

** U.S. President Donald Trump has paused all military aid to Ukraine following his clash with Ukrainian President Volodymyr Zelenskiy last week, according to media reports

** Leaders from major European economies agree to boost defence spending after Trump-Zelenskiy meeting

** "Hanwha Aerospace and Hyundai Rotem are among South Korean defence firms of meaningful exposure to business in Europe, with capability to provide cost-efficient weapons in a timely manner," says DS Investment Securities

** The broader KOSPI market .KS11 up 0.5%, as of 0030 GMT

 (Reporting by Jihoon Lee)

 ((jihoon.lee@thomsonreuters.com))